Kazakh-Uzbek trade grows 50% in Q1 2018

Kazakh-Uzbek trade grew 50 percent in the first quarter of 2018 compared to the same period last year and the countries are working to grow trade to $3 billion by the end of the year. Kazakh First Deputy Prime Minister Askar Mamin also told Uzbek President Shavkat Mirziyoyev in a meeting that the two countries are working to increase trade to $5 billion by 2020.

“We have all the necessary opportunities and potential to do this. We need to make use of all the possible reserves, and the Intergovernmental Commission is currently working to tackle this issue,” he said in an interview with the O’zbekiston 24 television channel, noting Kazakhstan and Uzbekistan are observing a boom in bilateral relations in virtually all the sectors of the economy.

Uzbekistan is Kazakhstan’s largest trading partner in the region and the partner with whom Kazakhstan has experienced the highest rate of trade growth.

Trade and economic cooperation, especially on a regional level, were one of the main topics Mirziyoyev and Mamin discussed. The Uzbek leader noted the role of the March 15 Heads of Central Asian States Consultative Meeting in Astana in developing regional cooperation.

Mirziyoyev and Mamin also discussed plans for the first Regional Economic Forum of Central Asian States in 2018 in Tashkent. The decision to hold the forum, initiated by Mirziyoyev, was adopted at the last consultative meeting.

During Mamin’s visit, an agreement was also reached to hold the first Kazakh-Uzbek Interregional Forum in Astana and the first meeting of the Business Council and the joint business forum in Shymkent.